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The Authorization Letter For 3rd Party Payment is a crucial document in South African financial transactions where an account holder needs to authorize payments to another party. This document is commonly used in situations where direct payment from the account holder isn't practical or when establishing ongoing payment arrangements. It must comply with South African banking regulations, particularly the Financial Intelligence Centre Act (FICA) and the National Payment System Act. The letter typically includes comprehensive details about all parties involved, specific payment instructions, and authorization duration. It's particularly important in business contexts where regular third-party payments are required, or in personal situations where someone needs to authorize payments on behalf of another person. The document serves as a legal record of the payment authorization and protects all parties involved in the transaction.

1. Letter Header and Date: Includes letterhead (if applicable), date, and reference number

2. Recipient Details: Full details of the bank/financial institution to whom the authorization is addressed

3. Subject Line: Clear indication that this is a Third Party Payment Authorization

4. Authorizer Information: Complete details of the person/entity authorizing the payment, including account holder details

5. Beneficiary Information: Complete details of the third party receiving the payment

6. Payment Details: Specific amount, payment reference, and purpose of payment

7. Authorization Statement: Clear statement authorizing the payment and accepting associated fees

8. Duration of Authority: Validity period of the authorization

9. Authentication: Signature section with date and place of signing